Asset supervisor Grayscale has filed to record an exchange-traded fund (ETF) holding a various basket of spot cryptocurrencies, US regulatory filings present.
On April 1, Grayscale submitted an S-3 regulatory submitting to the US Securities and Change Fee (SEC), which is required to transform the non-listed fund to an ETF.
The Grayscale Digital Giant Cap Fund, which was created in 2018 however isn’t but exchange-traded, holds a crypto index portfolio comprising Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP) and Cardano (ADA).
As of April 1, the fund has greater than $600 million in property beneath administration (AUM) and is simply out there to accredited traders (entities or people with excessive internet value), in accordance with Grayscale’s web site.
The filing follows an Oct. 29 request by NYSE Arca, a US securities change, for permission to record the Grayscale index fund.
Grayscale’s digital massive cap fund holds a various basket of digital property. Supply: Grayscale
Associated: US crypto index ETFs off to slow start in first days since listing
Index ETFs in focus
The submitting underscores how ETF issuers are accelerating deliberate crypto product launches now that US President Donald Trump has led federal regulators to a softer stance on digital asset regulation.
In December, the SEC greenlighted the first batch of mixed crypto index ETFs. Nonetheless, the funds — sponsored by Hashdex and Constancy — maintain solely Bitcoin and Ether. They’ve seen relatively modest inflows since debuting in February.
In February, the SEC acknowledged more than a dozen exchange filings associated to cryptocurrency ETFs, in accordance with data. The filings handle points corresponding to staking and choices for current funds in addition to new fund proposals for altcoins corresponding to SOL and XRP.
In response to trade analysts, crypto index ETFs are a most important focus for Wall Road’s issuers after ETFs holding BTC and ETH debuted final yr. “The subsequent logical step is index ETFs as a result of indices are environment friendly for traders — similar to how folks purchase the S&P 500 in an ETF. This would be the similar in crypto,” Katalin Tischhauser, head of funding analysis at crypto financial institution Sygnum, told Cointelegraph in August.
Journal: How crypto laws are changing across the world in 2025
